As Asian property nears peak, nimble investors sell

Transactions at eye-popping earnings multiples and buyers taking risky bets across Asia contingent on heavy lifting, a few veteran investors in the market are bewildered and looking to sell into pockets of demand. “We are in the late stage of the real estate cycle. The market is filled with a lot of artificial liquidity,” said Collin Lau, founder of Asian real estate firm BEI Capital. He noted that quantitative easing by central banks has been distorting prices. “I would be a net …